Lithuania: Ignitis Grupe to invest EUR 25mn in energy startups

Lithuania’s state-owned energy group, Ignitis Grupe, will invest EUR 25mn in energy and climate change startups over ten years through Germany’s World Fund, Baltic News Network reports. The group has signed an investment management agreement with WF World Fund Management. Earlier, Ignitis Grupe announced that World Fund would manage the group’s second venture capital fund. At least 50% of the VC fund’s investments are earmarked for startups in the EU and the EEA area.